UralSib Bank has signed a two-year US$404mn syndicated term loan facility, jointly arranged by Bank of Tokyo-Mitsubishi UFJ, Commerzbank, RZB, Soci&eaute;té Générale, and Sumitomo Mitsui Banking Corporation Europe.


The loan pays the margin of 75bp over Libor. The loan was launched at US$300mn, and the amount was increased by 35% due to oversubscription. 23 lenders from various countries joined the syndicate. The proceeds from the loan will be used to finance trade contracts of UralSib’s corporate clients.


“This transaction is an important new landmark for UralSib: it is the largest syndicated loan ever raised by the bank with the longest maturity. The new deal reflects both growing profile of the Russian banking sector and strong creditworthiness of UralSib. We believe it will further strengthen our market position and further enlarge our lenders” base,” says Alexander Dementiev, deputy chairman of the management board of the bank.


UralSib is one of the largest privately owned Russian banks, ranked sixth by the size of the assets.